



The coming (already here) recession appears to be acutely sensitive ahead to the decisions of Jay Powell, Chairman of the US Federal Reserve, described by one of the broadsheets as ‘the most important person in the world right now.’ “Money makes the world go round —- and he has his hand on the most important lever.” Central banks are stuck between rock and a hard place forced to choose between increasing interest rates to bring inflation down but in so doing suppressing chances of economic revival.
Decades back in the worst recession since WW11, Paul Volcker, former chairman of the US FedRes raised interest rates from 11.2 per cent in 1979 to 20 per cent in 1981 and drove the US economy off the cliff with global repercussions. There was a recovery after three or more years, as there always is, though long-term effects contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, and the later failure in the US savings and loans businesses.
“ Will Powell change direction too early, too late or, by some miracle, at just the right time? The health of the US economy (and by extension that of the rest of the world) depends on the answer to this question.”
Powell, 4 February 1953, Washington, DC, is a steady and stalwart Sun Mercury in Aquarius opposition Pluto, trine (Moon) Neptune (Saturn) in Libra. He has a Yod of Saturn Neptune sextile Pluto inconjunct Mars in Pisces. His Mars is being sucked into a swamp by tr Neptune conjunct from mid May 2023 onwards into early 2024. That is usually accompanied by a sense of panicky failure.
Tr Pluto will continue to square his Saturn from 2022 till late 2023 which is an uphill slog and usually discouraging. With his Solar Arc Mercury and then Sun opposition his Saturn now till 2025. And 2023 also sees tr Uranus square his Sun, Mercury and Pluto from now into 2024. All in all a white-knuckle ride ahead for him with no signs of great success.
His relationships with other top economic and political figures also reflect high anxiety. With Joe Biden, panic will set in through February and will peak as tr Pluto moves into Aquarius in late March through April.
Ursula von der Leyen, President of the European Commission, looks very fraught and aggravated with Powell in March and onwards; as well as mighty confused by his decisions.
Christine Lagarde, President of the ECB, is equally floundering vis a vis Powell at the moment and throughout 2023 and stuck in late January.
Kristalina Georgieva, IMF chief, is at odds with Powell from April onwards into 2023.
Andrew Bailey, chairman of the Bank of England, is in turmoil with Powell from February onwards, descending into devastating confusion from late March as tr Pluto squares their composite Neptune. UK PM Rishi Sunak, himself a financier by background, will be hopping up and down from March onwards in his relationship with Powell and that extends through the year. UK Chancellor Jeremy Hunt is not looking too supportive either throughout 2023.
Transits to composite charts can show up splits in relationships and pressures; or a challenging situation both are facing jointly. But one way or another it looks like a rocky road ahead economically.
See previous post: Pluto into Aquarius – shock waves through central banks. 10th September 2021.